Sat.Apr 06, 2019 - Fri.Apr 12, 2019

Leaving customers digitally high and dry … big mistake

Chris Skinner

I’ve recently seen two blogs about issues with challenger banks N26 and Tandem. They both relate to the ways in which these new banks communicate, or not in these cases.

Solve your quota setting challenge: Start with Design Thinking

Insights on Business

You’re probably familiar with philosopher George Santayana’s admonition: “Those who cannot remember the past are condemned to repeat it.” While that’s hard to dispute, most of us will admit to occasionally falling short.

A Marketplace For Stolen Fingerprints Has Emerged

PYMNTS

Security researchers at Kaspersky Lab revealed at the Kaspersky Security Analyst Summit in Singapore that a dark net marketplace in which hackers are selling digital fingerprints has emerged.

How mobile payments are changing the restaurant industry

Mobile Payments Today

Mobile payment acceptance is leading to rapid change in the restaurant industry, impacting everything from credit card use to delivery and online ordering as well as customer loyalty

Want a decent analysis of #Brexit from an EU view?

Chris Skinner

Another key theme of the weekend conference was Brexit, best summed up by one panellist as a decision made by a confused population about an issue their politicians can’t agree with, don’t want to implement and has no support.

Alt Lender BlueVine Moves Into Larger Credits with New Loan Product

Bank Innovation

Aiming squarely on the gig economy, digital lender BlueVine on Monday launched a "Term Loan" product to diversify its offerings. The product is the latest in what is now a crowded lending sector. The loans will range between $5,000 to $250,000, offered through an end-to-end digital experience.

Online 164

Why Small Business Owners Should Always Have An Exit Strategy

PYMNTS

Hundreds of thousands of new small businesses (SMBs) open their doors every year in the U.S., be them physical or digital.

More Trending

The economic outlook for the next few years is …

Chris Skinner

I was lucky enough to be invited to a conference of the great and the good managing one of the large economies of Europe the other day. It was in a fine location, with lots of dignitaries, media coverage, security guards and German shepherds.

Prospects for More De Novo Digital Banks Come Into Clearer Focus

Bank Innovation

Get ready for more banks. Digital ones, that is. New data shows that consumers -- and financial institutions -- are more inclined toward greenfield digital banks.

How Retailers Are Gearing Up For Contactless Payments Via mPOS

PYMNTS

With the use of contactless payments heating up around the world, small and mid-sized businesses (SMBs) and their solution providers have to prepare for their acceptance. Mobile point-of-sale (mPOS) terminals that are enabled for contactless have to meet certain specifications to gain EMVCo 3.0

Retail 283

Envel uses AI to redefine banking for Generation Z

Mobile Payments Today

Envel uses artificial intelligence and machine learning to help young adults control their spending, manage their expenses and save for a rainy day in a way that traditional banks can't or won't for this segment of the market

The challenge of transforming into “Banks of the Future” (research)

Chris Skinner

During the weekend I presented the trends on FinTech and Tech Fin, my two favourite subjects. I’ll update on that shortly but I was also involved in a study the organisers – The European House Ambrosetti, a leading economics think tank based in Italy – conducted before the conference.

Understanding alternative assets and the challenges of managing their risk

Insights on Business

Why alternative assets. Unless one has been in a Rip Van Winkle-style cryogenic state over the past few years, it would be hard not to notice the shift in asset allocations toward “alternative assets” for investment portfolios of buy side institutions. There are several reasons behind the tilt.

How FinTech Firms Are Tackling Africa’s Agriculture Challenges

PYMNTS

FinTech firms are tackling everyday challenges across Africa by digitizing payments and providing increased transparency. Cellulant ’s Agrikore and Tingg Marketplace offerings, for instance, seek to take on the continent’s food struggles.

How Important Is Voice and Design Tech to Banking Customer Experience?

Bank Innovation

When it comes to customer experience in banking, sights and sounds matter most. Natural-language-processing technology and design and digital user experience, known as UX, were seen as the top ways to drive improved customer experience, according to a recent poll by Bank Innovation.

Today’s cool is tomorrow’s retro

Chris Skinner

I was once again reminded of the stupidity of passwords when locked out of yet another service that I use maybe once a year. When I decided to reset the password, once again my iPhone offered to set up a strong password that it would remember for me.

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Windows 10 ATM migration: The breaking point for banks?

ATM Marketplace

Faced with another Windows OS migration, financial institutions are seeking relief from what seems like perpetual ATM upgrade expense and pathetically short product life cycles. And disgruntled Windows ATM owners are discovering that they really do have options

ATM 123

Payments Execs On 2019’s Payments Innovation Watershed

PYMNTS

One decade draws to a close, the next one looms. Only a few months into 2019, the year is already shaping up to offer a bit of a watershed in how we pay and how we get paid.

JPMorgan Chase’s Tech Spending to Flatten, CFO Says

Bank Innovation

JPMorgan Chase's technology spending is expected to level out moving forward as the bank modernizes and more processes are digitalized, CFO Marianne Lake said during the bank's first quarter earnings call today. The bank is currently spending about $11.5

Things worth reading: 12th April 2019

Chris Skinner

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'It's time to rethink how we manage the cost of cash'

ATM Marketplace

According to research firm McKinsey, the cost of cash — which represents 5–10% of a bank's overall operating cost — is rising, even as the use of cash is declining.

ATM 116

Jumia Stock Debut Signals Appeal Of African eCommerce

PYMNTS

It was a good day for Jumia Technologies on Friday (April 12) — and that’s a good signal about the future prospects of eCommerce in Africa, home to some 1.3 billion people, of whom at least 725 million have mobile devices.

Fintechs Ramp Up Hiring as Big Banks Cut Jobs, Turn Defensive

Bank Innovation

As many of Europe’s biggest financial firms trim staff and brace for Brexit, their emerging competitors are charging ahead at full speed. Fintech, a broad category encompassing businesses from mobile banks to peer-to-peer lenders, hired aggressively in the first quarter in the U.K.,

The Finanser’s Week: 1st April – 7th April 2019

Chris Skinner

The main blog headlines are … Alipay and Visa announce global QR code venture We all got hugely excited about Apple launching a credit card with Goldman Sachs and Mastercard last week. Whoopy-doo! This was a major lift for Mastercard in particular.

Apple 249

Banks forced to turn to machine learning to tackle compliance burdens

Bobs Guide

Banks are increasingly turning to machine learning to innovate heavily manual and costly middle and back office mission critical compliance management processes, say market participants. “Banks are already in a period of change, mostly in the more business- driven activities in the front

New Wire Fraud Scam Reroutes Direct Deposit Paychecks

PYMNTS

A new type of phishing scam targets the HR departments of companies and asks for reroutes on direct deposit accounts, CNBC reported. Once the changes are made, a paycheck will go directly into a criminal’s account.

Fraud 279

Mass Personalization With ML Said to Be Limited to Mega Banks Today

Bank Innovation

Banks increasingly tout the potential for machine learning and artificial intelligence to transform the industry, but how many are deploying the technologies in a material way?

Survey 141

Things worth reading: 11th April 2019

Chris Skinner

ATM 233

Startup Continent: The Most Well-Funded Tech Startups In Europe

CB Insights

Europe is home to prominent startup and innovation hubs in cities like Berlin, Stockholm, and London. However, the tech boom is diffusing across the continent, and startups are emerging far beyond the established tech hotbeds.

Groups 114

Coinbase Launches Crypto Debit Card In The UK

PYMNTS

Coinbase , the cryptocurrency exchange operator, announced Wednesday (April 10) the launch of the Coinbase Card in the U.K., which is a Visa debit card that lets customers in the U.K. spend crypto as easily as they spend money sitting in a bank account.

Cards 269

New Biz Dev Head at BBVA Compass Sets Priorities Around Leveraging Data

Bank Innovation

BBVA Compass, the U.S. arm of Spanish giant BBVA, has a new head of business development, Jose Luis Elechiguerra, whose goal is to give customers products that will help them make better financial decisions. The key to delivering that promise for BBVA, or any digital bank, for that matter, is data.

Data 141

Things worth reading: 8th April 2019

Chris Skinner

How can you be AI ready?

Dataconomy

Organizations implementing AI have increased by 270 per cent over the last four years, according to a recent survey by Gartner. Even though the implementation of AI is a growing trend, 63 per cent of organizations haven’t deployed this technology. What is holding them back: cost, talent shortage?

Survey 114

SWIFT On Cybercrime’s Evolution Post-Bangladesh Bank Heist

PYMNTS

Headlines swirling around cyber fraud usually center on the size and scope of heists, where the bad actors make off with breathtaking sums — in the hundreds of millions of dollars.

Fraud 267

FIS to Help Stand Up Digital-Only Banks Within 90 Days

Bank Innovation

Fintech provider FIS aims to help financial institutions lacking the in-house firepower to launch their own direct-to-consumer digital-only banks to do so in just 90 days. The Jacksonville, Fla.-based

Things worth reading: 9th April 2019

Chris Skinner

Things we’re reading today include … World’s biggest data breach is just the tip of the iceberg – Dark Web dangers are growing U.S.

Data 199

Elizabeth Holmes’ Failed Theranos Was Just Granted 5 New Patents In 2019

CB Insights

Theranos, the blood-testing company once valued over $9B, ceased operations late last year — after a whirlwind of events which led to its very public shut down.

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